Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, in collaboration with Cooperlemon Consultancy, aimed at acquiring up to a 70% stake in Zambia’s Silverking copper mine and its associated exploration license. The initial option period spans 18 months, during which Xtract is obligated to invest $500,000Continue Reading
Recently, Democratic Republic of the Congo’s President Félix Tshisekedi has outlined an ambitious plan to create approximately 6.4 million jobs during his second term, averaging about 1.3 million jobs annually. Central to this plan is leveraging the country’s principal export: mining. With the DRC’s untapped mineral resources estimated at $24Continue Reading
Zambia’s mining industry is experiencing a transformative phase, propelled by policy changes, targeted investments, and exploration endeavors to tap into the nation’s abundant mineral resources. Copper and emeralds represent 70% and 20% of Zambia’s export revenues respectively, leading the government to prioritize mining advancements for economic growth. Mopani Acquisition CompletedContinue Reading
Baker McKenzie, a leading international law firm, provided legal counsel to ZCCM Investments Holdings Plc (ZCCM-IH) in its significant partnership with International Resources Holding RSC Ltd (IRH) of Abu Dhabi, which invested via its subsidiary, Delta Mining Limited. Delta has secured a 51% stake in Mopani Copper Mines plc (MCM)Continue Reading
In February 2024, Zambian President Hakainde Hichilema described the initiative to link the country’s copper mines with a port in Angola as a “once-in-a-lifetime” opportunity. This U.S.-supported project, also backed by the European Union and the G7, involves constructing new railway tracks in Zambia to connect with existing lines inContinue Reading
As advancements in cobalt-free electric vehicle battery technology progress, Congolese officials are conflicted over the idea of implementing export restrictions on cobalt. The Democratic Republic of Congo (DRC), which is responsible for about 70% of the world’s cobalt supply, is considering export quotas to increase cobalt prices. This news wasContinue Reading
This week in Lusaka, Zambia, an international forum focused on enhancing the artisanal and small-scale mining (ASM) of Development Minerals is underway. Development Minerals include construction materials, industrial minerals, and semi-precious stones, which sustain the livelihoods of millions, predominantly in Africa. The Forum on Sustainable and Inclusive Mineral Value ChainsContinue Reading
The World Bank has initiated a $700 million program in March 2024 to bolster Zambia’s electricity sector. This initiative, named the National Energy Advancement and Transformation Program, seeks to enhance energy infrastructure in alignment with the government’s goal of achieving 10% GDP growth by 2030 and expanding job opportunities. ToContinue Reading
Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, which is in collaboration with Cooperlemon Consultancy, to potentially acquire up to a 70% stake in Zambia’s Silverking copper mine and its accompanying exploration licence. The initial option period spans 18 months, during which Xtract must invest $500,000Continue Reading
The Lobito Corridor, spanning from Zambia and the Democratic Republic of the Congo to the Angolese port of Lobito, represents a massive initiative aimed at countering China’s influence in the region. This ambitious project involves constructing approximately 800 kilometers of new railway tracks across Africa. Initial funding of $1.6 billionContinue Reading
